Source - LSE Regulatory
RNS Number : 5015G
Parkmead Group (The) PLC
26 July 2021
 

26 July 2021

 

The Parkmead Group plc

("Parkmead" or "the Company")

 

 

Extension of Loan

 

The Parkmead Group plc is pleased to announce a 24-month extension to the interest-bearing loan to Energy Management Associates Limited ("EMAL") of £2.9 million (the "Loan") ahead of the expiry of the loan on 27 July 2021. By providing this facility, Parkmead benefits from an exclusive arrangement to join EMAL in new ventures being evaluated by the Company, including inter alia potential opportunities relating to renewable energies. The Loan will continue to bear a fixed interest rate of 2.5 per cent per annum, payable to Parkmead. The entry by the Company into the Loan extension with EMAL, in which Tom Cross is a director and shareholder, is a related party transaction for the purposes of Rule 13 of the AIM Rules. The Directors (other than Tom Cross), having consulted with FinnCap, consider that such arrangements with EMAL are fair and reasonable insofar as the Company's shareholders are concerned.

 
Enquiries:

 

The Parkmead Group plc

+44 (0) 1224 622200

Ryan Stroulger (Chief Financial Officer)  

 

 

 

 

 

 

finnCap Ltd  (NOMAD and Broker to Parkmead)

+44 (0) 20 7220 0500

Marc Milmo / Seamus Fricker - Corporate Finance

 

Andrew Burdis / Barney Hayward - ECM

 

 

 

 

 

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